Ssangyong looks to banks and SAIC for survival
Author: Robin Brown
Published: 05 January 2009
Ssangyong's largest creditor, Korea Development Bank, has agreed to help the stricken car-maker on the condition that Ssangyong's parent company – SAIC – agrees to plough cash into the SUV manufacturer.
SAIC initirally indicated that it would not prop up Ssangyong, but has since announcing that it will release a plan to turn around the Korean car-maker.
SAIC has ploughed several amounts of cash into Ssangyong over 2008, as the latter struggles against falling sales. SAIC owns 51 percent of Ssangyong a
See Also:
Click here for more Ssangyong stories
Click here for more Car sales and analysis stories
Click here for more New Markets stories
News and analysis of what's happening in the car industry - at home and worldwide.
Watch video news for the automotive industry in the UK, US, Europe and Far East, with daily updates on new models, motor shows and global automotive markets.
The People´s car, the one-Lakh car, the cheapest car in the world, an environmental disaster or a seismic shift in the industry. Call it what you will, its manufacturer calls it the Tata Nano, and it costs less than £1,300.
The Abarth name is going to race back into motorsport and European showrooms next year.
When a Chinese SUV came to Europe, the ADAC decided to crash-test it. It failed. Now, Chinese carmakers hope to import cars without crash-testing them.
advertisement
The Alfa Romeo 8C Spider will be blasting up the hillclimb at the Goodwood Festival of Speed this weekend, as Alfa prepares for its centenary year. | 02/07/2009
Prices for the new 2010 Land Rover Range Rover Sport will start at £44,895, while the new Land Rover Discovery 4 will go on sale from £31,995. Both models go on sale in the UK from 1 September. | 02/07/2009
BMW has released official pictures of the X1 small SUV, set to debut at Frankfurt Motor Show in September, with sales commencing the following month with prices expected to start at £22K. | 02/07/2009
Suzuki will extend 0 per cent APR finance offers on Swift, Splash, SX4 and Grand Vitara models until the end of September 2009. | 02/07/2009
Mazda will introduce fuel-saving stop-start technology to its new Mazda3 149bhp 2.0 Sport model, which will go on sale from £18,025 in hatch and saloon guises. | 02/07/2009
|30/06/2009
The UK Government scrappage incentive should not be extended despite the additional registrations it has brought, says Fiat.
|30/06/2009
All in all the new Toyota Verso is a sound and safe buy. Well equipped from the bottom model up, the Verso may not be exciting but it is fit-for-purpose and after all it is a Toyota.
|30/06/2009
Mazda has refreshed the MX-5 roadster and roadster coupe for 2009 - the 20th anniversary of the car hitting the market.
|01/07/2009
Motorists driving without wearing their seatbelt will be fined £60, while motorists driving without legal plates will also be hit with a stiff fine.
|01/07/2009
The 225mph Jaguar XFR Prototype - billed as the fastest Jag ever - will appear at the Goodwood Festival of Speed.
|20/11/2007
Around 400 people a day risk damaging their car by misfuelling, and filling up with gas is a mistake that could cost thousands. So what do you do if you´ve filled up your diesel car with unleaded petrol?
|01/10/2008
Euro Car Parts has acquired Pinco 1555 Ltd, including all 53 of LSUK's 53 branches, together with subsidiaries M I Diesel Products, Protech Automotive (UK) and Yeovil Rewind.
|19/09/2008
20 of the best 90's TV car adverts showcase an industry wising up to the buying power of women, and putting the battle of the sexes at the forefront of car commercials.
|13/11/2007
German sports car manufacturer marches on as it post a monster €5.85bn profit.
|06/12/2007
Fuel protests similar to those that brought the UK to a halt in 2000 are being planned by a breakaway group of disaffected hauliers, according to press reports.
Search Motortorque:
No readers comments
Be the first to write a comment on this article